The corrosion crisis within the oil industry continues to spread. Now Shell has been criticised by the shareholder action group, the Ecumenical Council for Corporate Responsibility (ECCR) over its corroded gas pipes in Ireland.

The oil industry is “hushing up” the extent to which corrosion is eating into pipelines and hitting production, according to an influential oil industry consultant who is also the head of the UK Royal Society of Chemistry.
Richard Pike, who spent 25 years working for BP before becoming a consultant, argues that some of the world’s […]

Matthew Simmons is well known within the industry for his predictions on peak oil. He first shot to prominence by arguing that Saudi Arabia was running out of oil and had inflated its reserves figures. His findings were published in the controversial book, Twilight in the Desert: The Coming Saudi Oil Shock and […]

As well as facing a lawsuit from its shareholders, it has emerged that BP now faces three Congressional hearings into its problems at Prudhoe Bay. Republican Don Young, has scheduled a hearing of the House Transportation and Infrastructure Committee, for Sept. 13.

The fall-out from BP’s Alaskan fiasco continues. The company’s shareholders have now filed a lawsuit against top executives accusing them of letting investors down by failing to repair the pipeline that forced the shutdown of part of Prudhoe Bay.
The lawsuit filed earlier this week in Manhattan is targeted at board members and directors including CEO […]